Miguel Cordon · · 1 min readEcommerce shipping startup banks $2.2m in pre-series B round
Buyandship, a Hong Kong-based ecommerce shipping and media service provider, raised US$2.2 million in a pre-series B round led by existing investor Infinity Venture Partners.
Local financial group SQ Capital, along with strategic angel investors and key Buyandship management, also participated in the round, according to a statement.
Photo credit: Buyandship
The logistics company said it plans to use the fresh funds to improve its warehouse automation system and its “one-click buy” service, which streamlines the process of purchasing overseas products. It also plans to expand its presence in Singapore, Malaysia, Taiwan, India, and the United Arab Emirates, as well as enter new markets in Southeast Asia.
Founded in 2014, Buyandship has its own network of warehouses to fulfill deliveries. It currently runs collection and export warehouses in Japan, South Korea, China, Hong Kong, Taiwan, the US, the UK, Italy, and Australia.
After moving its Hong Kong distribution center to a bigger facility and expanding its warehouse in Japan due to rising parcel volume, the company said it will relocate its US warehouse to a larger space.
Editing by Eileen C. Ang
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